It may well happen that there are several good and bad reviews about a broker. This is possible because every trader has different demands on his broker. What is okay for one, may be insufficient for another. In this case, we advise you to read the reviews carefully and ask yourself whether the negative points would be disadvantageous for your trading, or whether you can neglect these points in your trading strategy.
Broker to Forex & CFD Broker
Some more questions you can ask yourself to see how serious or unserious the broker is likely to work are the following:
How long has the broker been in the market?
If the broker has been operating for 10 years or more, this tells them that the broker has experience in Forex trading and cares about their clients. Otherwise, it would most likely not be around today.
Is the broker regulated by a reputable regulatory body?
If the broker is supervised by a major regulatory body, it means that the broker is seriously trying to meet the requirements of the authority.
Does the broker offer more than Forex trading to its clients?
If a forex broker offers futures, commodities, stocks or CFDs in addition to forex, in most cases this means that the broker maintains a larger business and serves more clients.
Good and bad broker reviews
Carefully read and analyze the reviews and experiences in our Forex and CFD broker comparison. Often it is possible to deduce from the review how well the trader is familiar with forex trading and how knowledgeable he is about the topic he is writing about. In this way, you can filter the bad reviews in which trading novices, for example, blame their broker, although possibly their own inability was to blame for the described problem.
On the other hand, smaller forex brokers or forex signal service providers sometimes write reviews on their own service to push it. With larger brokers, especially brokers that offer a good service, this usually happens less. But also these ratings can be filtered out relatively well by careful analysis. If most reviews on a service are bad, it is hard to believe that a user gives a 5 star rating and has never experienced any of the problems described. Here you should look more closely.
A couple of tips to end with
Ultimately, the way to find the best Forex or CFD broker should be similar to choosing a bank to entrust your money in sg-exness.com to.Here you also pay attention to the reputation of the bank, the transparency of the company, the services and conditions offered and the way you are treated as a client.
User Agreement / Client Agreement
What is a User Agreement/Client Agreement ? As it sometimes turns out, the information on the websites of CFD and Forex brokers is not always up to date. For example, a spread of 1 pip is stated, although the spread is already 2 pips, or the broker officially allows scalping, although this is not the case in reality.
Therefore, always read the User Agreement/Client Agreement before opening an account instead of just checking "I agree/I agree".
Remember:
In the end, good research before opening an account always pays off for you! Money that is eaten up by fees, slippage or similar things at a broker that is unsuitable for you may prevent you from participating profitably in trading and thus makes the difference between success and failure!
